Ontario Teachers' exits Bridon-Bekaert Ropes Group

BBRG CEO Matthew Taylor disclosed the group has not delivered a consistent improvement trend and a better financial performance since the merger that created the company took place in 2016.

Taylor explained that taking full control of the business at this stage will allow it to accelerate the turnaround efforts.

OTPP initially acquired Doncaster-based Bridon in Q4 2014 in a £365m deal. Around a year later, OTPP and Kortrijk-based Bekaert reached an agreement to establish BBRG, a new joint venture in which Bekaert would hold a 66% stake. The group was established in June 2016.

Company
Founded in 2016 as a result of a British-Belgian merger, Bridon-Bekaert Ropes Group is a developer and producer of advanced cords and ropes. The Group serves industrial sectors including oil & gas, mining, cranes and elevators. Bridon-Bekaert Ropes Group, headquartered in Kortrijk, operates 19 production plants and generated an annual turnover of around $600m. The business employs 2,500 people worldwide.

People
BBRG –  Matthew Taylor (CEO). 
OTPP – Jane Rowe (senior managing director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Benelux
• Industrials
• Belgium
• Ontario Teachers' Private Capital
• Management buyback